BREAKING: Questions Swirl Around Rick Scott’s $120 Million Investment Payout

“It’s literally unprecedented for a Florida governor to make $120 million while in office — and Floridians have no idea how Rick Scott made this massive windfall. What unethical conflicts of interest did Rick Scott use to make these millions? Since Scott continues to hide his vast wealth, Floridians are still in the dark — but it’s crystal clear Scott’s still only looking out for himself,” said American Bridge spokesperson Joshua Karp.

Florida Bulldog: What did Gov. Rick Scott do with mysterious $120 million in cash?
By Dan Christensen, 7/11/18

  • “When newspapers across Florida reported recently that Gov. Rick Scott’s net worth jumped $83 million in 2017, what got missed or downplayed was that Scott also pocketed an astounding $120 million in unexplained outside income.”
  • “What did Republican Scott do with that $120 million? What was the ultimate source of all that money? The financial disclosure form the governor filed June 29th doesn’t say, his office and U.S. Senate campaign won’t talk about it.”
  • “Scott declared the $120 million simply as income from his controversial blind trust. Under Florida’s flaccid qualified blind trust law that’s all he was required to say.”
  • “Never before in Florida history has a governor – or for that matter any public official – reported receiving such a huge sum of cash.”
  • “Interestingly, Scott’s $203 million windfall – $120 million plus his $83 million bump in assets – closely tracks what Florida Bulldog exclusively reported in June 2017 was Scott’s share from the sale of Michigan-based Continental Structural Plastics (CSP), a maker of lightweight composite materials used in cars and trucks, to Japan’s giant conglomerate, Teijin Ltd. The $825 million deal closed on Jan. 3, 2017.”
  • “As a candidate for the Senate, Scott must soon disclose additional information about his personal finances. His Public Financial Disclosure Report was originally due May 15, but he was granted an extension until July 29.”

Read the full story here.

Background: Miami Herald: Florida Gov. Rick Scott’s net worth climbs $83 million in 2017
By Mary Ellen Klas, 6/2918

  • “The governor’s reported investment income from the trust rocketed from $4.3 million in 2016 to $120 million in 2017.”
  • “As a candidate for Congress, Scott has until the end of July to disclose all his family’s assets, including those held by his wife — a broader disclosure requirement than Florida requires.”